CRYM - CryoMass Partners with Cannabis Powerhouse LEEF to Deploy Its Cryo Separation Technology | Benzinga
DENVER, May 16, 2024 (GLOBE NEWSWIRE) -- CryoMass Technologies Inc. (the "Company" or "CryoMass") (OTCQB:CRYM), a pioneering leader in cryogenic refinement systems for trichome-rich crops, today announced the sale of its second CryoSift Separator™ production model ("Unit") for US$1.2 million. This sale was done concurrently with the execution of a multi-party Equipment Lease and Non-Exclusive Patent License agreement with a wholly owned subsidiary of LEEF Brands, Inc. ("LEEF") (CSE:LEEF, OTCQB:LEEEF), one of California's largest and most sophisticated vertically integrated cannabis companies.
This sale is facilitated by the Non-Dilutive Financing Agreement entered between CryoMass and CRYM Co-Invest GP ("GP") for the sale of up to five Units, as announced in our January 29 press release.
LEEF is managed by some of the best legacy operators in the industry. Their platform consists of an integrated supply chain, state-of-the-art manufacturing, and a robust white labeling service offering that powers some of the largest brands in California.
"In our initial engagement with LEEF nearly a year ago, their proactive stance towards pioneering innovation in the industry was readily apparent. In dynamic markets such as California, innovation serves as the cornerstone for companies like LEEF to secure market dominance and bolster profitability," said Christian Noël, CEO of CryoMass. "With a steadfast commitment to innovation and a wealth of expertise cultivated in California, LEEF is poised not only to thrive but also to disseminate this invaluable knowledge. By forging strategic alliances in emerging cannabis markets, LEEF and CryoMass aim to transcend conventional practices, sparing partners the arduous learning curve of cultivation, harvesting, and processing. LEEF embodies a collective of forward-thinking individuals, aligning seamlessly with CryoMass's ethos of daring to innovate beyond convention."
"We are thrilled to partner with CryoMass and integrate their cutting-edge CryoSift Separator™ technology into our operations," said Micah Anderson, CEO of LEEF. "At LEEF, we pride ourselves on staying ahead of the curve and delivering exceptional products to our customers. CryoMass's innovative approach to biomass refinement perfectly ...